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Straddle
Straddle Strategy The Straddle strategy is a strategy whereby the TraderPlan automation buys and sells are set to trade within a given range. A straddle follows a pure dollar cost average strategy. TraderPlan will buy and sell the same dollar amount independent of the current market price. The user has the power to establish the range, the margin thresholds, and maximum allocation that would be dedicated to each individual straddle. Straddle Setup Create Straddle Description: Using this command will create a new straddle. Commands/Shortcuts: preaddstraddle, preas To create a straddle you use the following commands: * !addstraddle * !as Example: preas BTC USDT The example shows a user creating a new BTC/USDT straddle. The new straddle strategy is created with a 50%/50% balance and is turned off by default. Remove Straddle Description: This feature allows the user to remove an existing straddle. The command will remove the straddle entirely. Once removed, a straddle pair would have to be added again and reconfigured. Commands/Shortcuts: preremovestraddle, prers To remove a straddle you use the following commands: * !removestraddle * !rs Example: prers BTC USDT The example shows a user completely removing their BTC/USDT straddle. If the user wanted to add it back, they would need to recreate it using preaddstraddle Copy/Clone Straddle Description: This feature allows for the user to import previous straddle settings into a new market/pair. The command creates a new straddle that has the exact settings of another straddle that the user chooses. Commands/Shortcuts: preclonestraddle, precs To copy a straddle you use the following commands: * !clonestraddle * !cs Example: precs BTC USDT DASH USDT The example shows a user creating a new DASH/USDT straddle. The new straddle will use the settings from their pre-existing original BTC/USDT straddle. View Straddle Report Description: Using this command will display all Straddle Pairs that you have added to your Straddle Editor Command/Shortcut: prestraddlereport, presr To view your straddle/s you use the following commands: * !straddlereport * !sr Example: presr The above entry will open a list of all saved pivots Edit Straddle Description:This feature allows the user to customize their straddle settings. This allows the user to take complete control of their straddle strategies on the fly. Commands/Shortcuts: prese, prees, press, preas (adds straddle, but brings up editor after adding). To edit your straddles you use the following commands: * !se * !es * !ss Example: prees BTC/USDT The example shows a user opening their BTC/USDT straddle for editing. Straddle Command Terms: (see next section for more details) Straddle Settings 1 - Base Allocation Edit This option sets the base asset allocation you want for the straddle pair. Example: 1 2 For a BTC market, the above entry will set 2 BTC as the maximum amount TraderPlan will trade with from your exchange wallet. 2 - Maximum Allocation Edit This option sets the maximum counter allocation you want for your straddle pair. Example: 2 5000 For a USDT market, the above entry will set 5000 as the maximum counter allocation amount which TraderPlan will trade with from your portfolio. 3 - Active Edit This option toggles the straddle to active/inactive (Represented as True/False). Example: 3 true 4 - Pivot Margin Edit This option establishes the % change needed in market price to initiate a buy or sell. Example: 4 4 The above entry will set the pivot margin to 4%. 5 - Pivot Mode Edit This option allows the user to toggle between Pivot Range and Pivot Price modes. In Pivot Range mode: TraderPlan will buy and sell as the market price increases or decreases by your pivot margin %, relative to the range set by your upper and lower target prices. In Pivot Price mode:TraderPlan will buy and sell as the market price increases or decrease by your pivot margin %, regardless of the range set by your upper and lower target prices. Example: 5 Range The above entry will set the pivot mode to Range. 6 - Scale Mode Edit When activated, Scale Mode adjusts the trading behavior of the Bot to weigh buys heavier towards the bottom of the market, and sells heavier towards the top of the market. Mild, Medium and Aggressive scaling profiles are available. Example: 6 OFF The above entry set Scale Mode to None. The different settings work as shown in the below image: 7 - Lowest Target Price (100%) Edit This is what you want your straddle to have as the lowest market price in your straddle range. Example: 7 500 For a USDT market, the above entry will set the lower price in your straddle range at 500 US Dollar Tether (USDT). 8 - Allocation Choke % Edit You can set your straddle to not initiate a buy at a set target percentage of your allocation. Example: 8 90 The above entry will set TraderPlan to not buy when the Current Target is 90% or above. 9 - Trail Stop Mode (Allocation) Edit This option toggles trailing buys on and off. Example: 9 10 - Trail Stop % (Allocation) Edit If Trail Stop Mode is toggled on, this will allow the bot to follow momentum of the market beyond the specified pivot margin %. Example: 10 0.1 The above entry will initiate a 0.1% market price trail, which will continue to follow the market price down. TraderPlan will initiate a buy after a 0.1% increase in market price. 11 - Buying Order Mode Edit This toggles the buy mode to LIMIT/MARKET (applies to exchanges that have these options). Example: 11 LIMIT The above entry sets the buying order mode to limit. 12 - Maker Taker Mode (Allocation) Edit This toggles the buy order type to MAKER/TAKER (MAKER will create the lowest bid, TAKER fills from the current lowest bid). Example: 12 MAKER 13 - Highest Target Price (0%) Edit This is what you want your straddle to have as the highest market price in your straddle range. Example: 13 2500 For a USDT market, the above entry will set the lower price in your straddle range at $2500 USDT. 14 - Distribution Choke % Edit You can set your straddle to not initiate a sell at a set target percentage of your allocation. Example: 14 10 The above entry will set TraderPlan to not sell when the Current Target is 10% or below. 15 - Trail Stop Mode (Distribution) Edit This toggles trailing sells on and off. Example: 15 16 - Trail Stop % (Distribution) Edit If Trail Stop Mode is toggled on, this will allow the bot to follow momentum of the market beyond the specified pivot margin %. Example: 16 0.1 The above entry will initiate a 0.1% market price trail, which will continue to follow the market price up. TraderPlan will initiate a sell after a 0.1% increase in market price. 17 - Selling Order Mode (Distribution) Edit This toggles the sell mode to LIMIT/MARKET (applies to exchanges that have these options). Example: 17 LIMIT The above entry sets the selling order mode to limit. 18 - Maker Taker Mode (Distribution) Edit This toggles the buy order type to MAKER/TAKER (MAKER will create the lowest bid, TAKER fills from the current lowest bid). Example: 18 MAKER